Plastics in automotive manufacturing offer weight reduction, as they are lighter than metals, enhancing fuel efficiency and reducing emissions, especially in the context of stringent environmental regulations and the increasing demand for electric vehicles (EVs).

The automotive plastic market is crucial in the modern automotive industry, offering lightweight, durable, and cost-effective solutions for vehicle performance and fuel efficiency. Its applications include interior and exterior components, under-the-hood parts, and electrical systems, driving innovation and sustainability in vehicle design and manufacturing.

Persistence Market Research predicts a 7.5 percent CAGR in the global automotive plastic market from 2024 to 2031, with a market size of $43.9 billion by 2031. Factors driving growth include increased vehicle production, stringent emission regulations, and demand for lightweight materials. The automotive industry is constantly evolving, driven by fuel efficiency, emissions reduction, and enhanced performance. Innovative use of plastics in vehicle design is a significant contributor to these advancements. The automotive plastic market has grown exponentially over the past few decades, with new materials and technologies pushing the boundaries of vehicle design and manufacturing.

Metals such as steel and aluminium have traditionally been the preferred materials in vehicle manufacture due to their strength and durability. However, plastics have evolved as a viable alternative, providing a number of advantages that metals cannot match. The usage of plastics in automobile applications began in the mid-twentieth century and has since grown dramatically. Today, the average automobile comprises roughly 20 percent plastic by weight, and this figure is anticipated to climb as manufacturers look for ways to cut vehicle weight and increase efficiency.

Key benefits of automotive plastics

Plastics in automotive manufacturing offer weight reduction, as they are lighter than metals, enhancing fuel efficiency and reducing emissions, especially in the context of stringent environmental regulations and the increasing demand for electric vehicles (EVs).

Plastics provide exceptional design flexibility, enabling manufacturers to create complex shapes and structures that are difficult or impossible with metals, thereby enhancing fuel efficiency and performance.

Cost Efficiency in plastics are generally less expensive to produce and process than metals. This cost efficiency extends to the manufacturing process, where plastic components can often be molded in a single step, reducing assembly time and labor costs.

Modern automotive plastics are durable and corrosion-resistant, ensuring their longevity and lower maintenance costs, resulting in longer vehicle lifespans.

Enhanced plastics safety can absorb and dissipate energy more effectively than metals, which is crucial in the event of a collision. This energy absorption capability helps improve crash safety and protect occupants.

Innovations driving the market

The automotive plastic market is experiencing significant advancements, particularly in the use of composite materials. These materials, which combine plastics with materials like carbon fiber or glass, are becoming more popular in automotive manufacturing due to their superior strength-to-weight ratios, making them ideal for applications requiring durability and lightweight properties.

Carbon Fiber Reinforced Plastics (CFRP) and Glass Fiber Reinforced Plastics (GFRP) are two promising automotive composite materials. CFRP is lightweight, strong, and rigid, used in high-performance sports cars due to its high cost. GFRP is used in body panels, bumpers, and structural components, balancing cost and performance. Research and development are making CFRP more affordable for mass-market vehicles.

Bioplastics and sustainable materials

As the automotive industry strives for greater sustainability, bioplastics and other eco-friendly materials are gaining traction. These materials are derived from renewable sources such as plants and algae, reducing the environmental impact of vehicle manufacturing.

Polylactic Acid (PLA): PLA is a biodegradable plastic derived from renewable resources like corn starch or sugarcane. It is being explored for use in interior components and other non-structural applications.

Polyhydroxyalkanoates (PHA): PHA is another biodegradable plastic produced by bacterial fermentation of sugars or lipids. It offers similar properties to traditional plastics but with the added benefit of being environmentally friendly.

3D pinting and additive manufacturing

3D printing, also known as additive manufacturing, is revolutionizing the way automotive components are designed and produced. This technology allows for the creation of highly complex and customized parts with minimal material waste.

3D printing facilitates rapid prototyping, enabling manufacturers to rapidly produce and test new designs, accelerating development and reducing time to market for new vehicles. It also aids in on-demand manufacturing of replacement parts, reducing inventory costs and ensuring availability when needed.

Nanotechnology is opening up new possibilities for automotive plastics by enhancing their properties at the molecular level. Nanocomposites, which incorporate nanoparticles into plastic matrices, offer improved mechanical, thermal, and electrical properties.

Improved Strength and Durability: Nanocomposites can significantly enhance the strength and durability of plastic components, making them more suitable for demanding applications.

Enhanced Thermal Stability: Nanoparticles can improve the thermal stability of plastics, allowing them to withstand higher temperatures without degrading. This is particularly important for under-the-hood applications.

Conductive Plastics: Nanotechnology can be used to create conductive plastics, which can replace traditional metal conductors in some applications. This can further reduce vehicle weight and improve fuel efficiency. The use of plastics in automotive design is extensive, covering a wide range of applications from the interior to the exterior and under the hood. Some of the key applications include:

Interior components

Plastics are widely used in vehicle interiors due to their versatility and aesthetic appeal, particularly in dashboard and instrument panels, where they allow for intricate designs and advanced features.

Modern plastics provide comfort, durability, and ease of cleaning for seating and upholstery, while also being used for trim and molding components, offering high-quality finishes and customization options.

Exterior components

Plastics significantly enhance the exterior of a vehicle, offering weight reduction and design flexibility, with key applications including:

Bumpers and Fenders: Plastics offer excellent impact resistance, making them ideal for bumpers and fenders.

Plastics significantly enhance the exterior of a vehicle, offering weight reduction and design flexibility, with key applications including:

Under-the-hood components

Plastics are also used in various under-the-hood applications, where their durability and resistance to heat and chemicals are crucial. These applications include: Engine Covers: Plastic engine covers offer a lightweight alternative to metal, reducing overall vehicle weight.

Manifolds, such as air intake and fluid reservoirs, are typically made from plastics due to their durability in high temperatures and corrosive environments.

Challenges and future prospects

While the automotive plastics industry is expected to develop significantly, it confronts a number of hurdles. These include worries about plastic waste and environmental effect, as well as the necessity for ongoing breakthroughs in material qualities and manufacturing procedures.

Environmental concerns: The automobile sector is under growing pressure to lessen its environmental impact. While plastics can reduce weight and improve fuel economy, they also add to plastic trash. Developing more sustainable plastics and improving recycling methods are critical for tackling these issues.

Material Advancements: Continued research and development are needed to enhance the properties of automotive plastics, particularly in terms of strength, durability, and thermal stability. This will ensure that plastics can meet the demanding requirements of modern vehicles.

The automotive plastics industry is at the forefront of innovation, shaping the future of vehicle design. From innovative composite materials and sustainable bioplastics to cutting-edge production processes and nanotechnology, the possibilities are limitless. As the industry evolves, plastics will play an increasingly important role in automobile manufacturing, opening up new prospects for increased performance, economy, and sustainability. These breakthroughs are shaping the future of transportation, and the automotive plastics industry is poised to play a key part in that shift.

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The collaboration for Mid-mile Logistics aims for 100 percent conversion of the fleet of trucks in this category over the next 5 years with support from government schemes & policies and in partnerships with OEMs and fleet operators.

Revfin, India’s pioneering digital lending platform that promotes sustainable mobility, disclosed a collaboration with Kalyani Powertrain Ltd (KPTL), Bharat Forge Ltd’s electric mobility arm, and Bluwheelz, a provider of sustainable logistical solutions, to introduce retrofitted electric trucks to the Indian logistics sector. It has developed novel financing instruments to facilitate the full conversion of truck fleets over the next five years, with government aid and collaboration with OEMs and fleet operators. This effort supports Revfin’s objective to transform the EV ecosystem and promote sustainable mobility.

KPTL has successfully homologated converted electric trucks with GVWs ranging from 10 to 16T for the N3 Goods Carrier market. These trucks are intended to sustainably service a variety of industries, including FMCG, e-commerce, cement, steel, and perishable items, increasing the availability of ‘Made in India’ solutions in the global automotive industry.

Retrofitting of EVs is crucial in the evolution of urban transport, significantly contributing to sustainable and smart cities. As global efforts to combat climate change and reduce vehicular emissions intensify, retrofitting offers a practical step towards a fully electric future as it helps extend the lifespan of old vehicles by up to 5 to 7 years and helps them in avoiding scrappage as endowed by regulations.

However, faster acceleration and adoption of retrofitted EVs and EVs in general would be achievable only if lower-cost funding is made available by different financial and climate-focused organisations in India and throughout the world. Furthermore, supporting programmes and incentives for obtaining carbon credits can dramatically lower financing costs, allowing for more widespread EV adoption.

Sameer Aggarwal, CEO and Founder, Revfin, said“We are dedicated to revolutionizing sustainable mobility and strengthening the EV ecosystem. Retrofitting is key to achieving decarbonization and net-zero goals worldwide, making EV adoption more accessible while fostering a greener future. It extends vehicle lifespan, integrates recycling principles, and reduces operating costs. By financing retrofitted vehicles, Revfin supports broader sustainability goals. However, we advocate for regulations that simplify retrofitting processes and extend the vehicle registration period beyond 15 years. Deep research on battery life extension will also help this sector. The scope of retrofitting isn’t limited to fleets but extends to school buses, chartered buses, travel, tourism, and beyond.”

CP Sethi, CEO and Co-founder, Bluwheelz, said, “This marks the launch of India’s first medium-duty retrofitted electric trucks for the mid-mile logistics segment in India. These trucks are capable of carrying a payload ranging between 7-10T and are designed to operate on intercity routes. We are deploying these trucks to serve a wide clientele base across various sectors to ensure fulfilling their green and clean mobility goals. We appreciate both Revfin and KPTL for their invaluable support in making this journey possible towards achieving sustainability in the logistics sector,” 

Amit Kalyani, the Vice-Chairman & Joint Managing Director, Bharat Forge Ltd, said, “KPTL is dedicated to developing sustainable transportation infrastructure. The company is committed to innovation and sustainability in addressing the needs of heavy electric vehicles in India. By introducing ground-breaking EV products and promoting retrofitted vehicles, we aim to make these vehicles the preferred choice for customers as these trucks can result in a 24 percent reduction in the Total Cost of Ownership (TCO) as compared to new electric models,” 

While the shift from internal combustion engine-powered automobiles to electric vehicles is currently challenging, a concerted effort incorporating government efforts, business collaboration, and public participation can assist overcome these obstacles. They may work together to create a more sustainable future and lead the drive towards a cleaner, greener planet.

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The Indian Army has partnered with Indian Oil Corporation Limited (IOCL) to conduct demonstration trials of Hydrogen Fuel Cell Bus technology, demonstrating a commitment to green and sustainable transportation.

The Indian Army has partnered with Indian Oil Corporation Limited (IOCL) to conduct demonstration trials of Hydrogen Fuel Cell Bus technology, demonstrating a strong commitment to discovering green and sustainable transportation solutions. The Indian Army is renowned for its dedication to innovation and environmental sustainability.

A Memorandum of Understanding (MoU) was signed by the Indian Army and the IOCL in the presence of General Manoj Pande, Chief of the Army Staff (COAS), and Shrikant Madhav Vaidya, Chairman of Indian Oil. During the ceremony, the Indian Army got one hydrogen fuel cell bus. This signals the beginning of a mutually beneficial cooperation between the Indian Army and IOCL. The MoU underlined the parties’ commitment to encouraging innovation and improving sustainable transport solutions in the future.

Hydrogen Fuel Cell technology provides a clean and efficient alternative by turning hydrogen gas into power via an electrochemical method. The technique generates just water vapour as a byproduct, resulting in zero emissions. The Hydrogen Fuel Cell Bus offers seats for 37 people. It boasts an amazing mileage of 250-300 on a full 30 kilogramme onboard hydrogen tank.

Significantly, the Indian Army signed an agreement with National Thermal Power Corporation Renewable Energy Limited on March 21, 2023, making it the first government body to do so for the construction of microgrid power plants based on green hydrogen along the country’s northern borders. A pilot project is being setup at Chushul, where a 200 Kilo Watt Green Hydrogen based Microgram will provide 24×7 clean electricity to troops deployed in inhospitable terrain and extreme climatic conditions.  

The Indian Army and IOCL’s Hydrogen Fuel Cell Bus project, which focuses on innovation and environmental responsibility, is a big step forward in the direction of cleaner and greener transportation options.

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JK Tyre & Industries Ltd. has opened its 12th brand shop in Maharashtra, expanding its last-mile presence in the region. The shop offers standard and smart tires, advanced wheel servicing equipment, technical advisors, and an experience zone.

JK Tyre & Industries Ltd. operates its 12th brand shop for commercial vehicles in Maharashtra, increasing its last-mile footprint in the region. This new facility operated by ARM Logistic Solutions Pvt. Ltd. was inaugurated by Anuj Kathuria. This cutting-edge one-stop shop, spanning 4,500 square feet and ideally placed on State Highway 48 (Panvel-Kanyakumari), is intended to provide best-in-class customer solutions to commercial vehicle owners. The cutting-edge facility boasts a diverse selection of standard and smart tyres for commercial vehicles, advanced wheel servicing equipment, highly qualified technical advisors, and an experience zone showcasing the distinctive features of JK Tyre’s exclusive stores.

Anuj Kathuria, President (India), JK Tyre & Industries Ltd., said, “At JK Tyre, we prioritise a customer-first approach by addressing their needs with innovative, high-quality products and exceptional after-sales service. We operate an extensive network of over 800 brand shops across various formats—Truck Wheels, Steel Wheels, and Xpress Wheels—throughout India, providing top-notch inline services.”

“The launch of our new brand shop highlights our commitment to providing premium products and services to our esteemed customers. Maharashtra, being a key market for commercial vehicles, holds significant importance for us, and we aim to extend our presence in the region through this new facility. With ARM Logistics Solutions, we look forward to strengthening our commitment to delivering innovation, quality, and convenience to our customers,” further added.

The opening of the new Brand Shop in Maharashtra aligns with the company’s goal of expanding its retail footprint in the state and across the country. These services include computerised wheel alignment, tyre rotation, nitrogen inflation, and tyre inflation, all of which are conducted under one roof to provide the consumer with a complete 360-degree experience.

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Nissan Motor plans to use low-CO2 emission aluminium parts in new and current models starting in fiscal year 2024, with the goal of transitioning to these components by 2030. The company aims to be carbon neutral by 2050 and aims to use green aluminium. 

Nissan Motor has declared that it will utilise low-CO2 emission aluminium parts manufactured from green or recycled aluminium in new and current models beginning in fiscal year 2024, with the goal of completing the full transition to such components by 2030.

Aluminium accounts for around 10 percent of vehicle weight. Nissan intends to take a substantial step towards carbon neutrality by adopting aluminium with low CO2 emissions. Nissan aspires to be carbon neutral during the whole lifespan of its vehicles by 2050.

Green aluminium is manufactured using power sourced from non-fossil fuels, which may cut CO2 emissions by up to 50 percent during production4. Furthermore, recycled aluminium may save CO2 emissions by almost 95 percent. Nissan has been importing low CO2 emission aluminium sheets for car panels made in Japan from Kobe Steel, Ltd. and UACJ Corporation. To further minimise CO2 emissions, Nissan will employ low-CO2 aluminium for all aluminium parts, including processed components, globally in the future.

All new vehicles produced beginning in fiscal year 2027 will utilise low CO2 emission aluminium. Nissan plans to begin procuring green aluminium wheels, chassis parts, axle parts, and harness wiring for current models in Japan, the United States, and Europe starting this fiscal year. As a consequence, by the end of fiscal year 2024, Nissan expects to replace about 20 percent of its newly mined aluminium for automotive components procured in those countries with green or recycled aluminium. Nissan prioritises sustainability in its corporate strategy, with the goal of creating a cleaner, safer, and more inclusive world. Nissan will continue to increase its efforts to create a sustainable society.

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The global automotive turbocharger market, valued at USD 18660 Million in 2023, is projected to reach USD 37120 Million by 2030, growing at a 10.2 percent CAGR. The market is driven by demand for high-performance, fuel-efficient cars, with advancements in electric and variable geometry turbochargers.

The Global Automotive Turbochargers Market, valued at USD 18660 Million in 2023, is projected to reach USD 37120 Million by 2030, with a 10.2 percent CAGR.

The automotive turbocharger market is driven by the growing demand for high-performance, fuel-efficient cars, as smaller engines can generate more power, leading to increased fuel efficiency and lower emissions. This aligns with strict environmental regulations and rising fuel prices. The use of turbocharged engines in gasoline and diesel vehicles, including commercial trucks and passenger cars, is also increasing. Technological advancements, such as electric and variable geometry turbochargers, further fuel the market expansion. The trend towards smaller engines and a smaller carbon footprint further fuels the demand for automotive turbochargers.

Turbocharger Market Overview

The quest for fuel economy drives the car turbocharger business, as customers and government agencies seek more efficient automobiles. Turbochargers increase engine efficiency and power output without increasing the engine, particularly in smaller engines. Manufacturers are introducing turbochargers to fulfil rigorous fuel economy rules, which reduce fuel consumption and CO2 emissions in accordance with global environmental goals. This is especially relevant for smaller engines in passenger and commercial vehicles.

Emissions regulations are becoming harsher over the world, notably in China, North America, and Europe. These rules compel autos to generate less harmful emissions such as CO2 and NOx. Turbochargers help manufacturers comply with tight standards by enhancing engine efficiency and decreasing exhaust pollutants. Turbochargers increase engine performance by enhancing the combustion of the air-fuel mixture, allowing the engine to run cleanly and more efficiently. The vehicle industry must embrace turbocharging technology as governments continue to tighten emission standards to combat air pollution and climate change, which is significantly driving market growth.

The shift towards hybrid vehicles (HEVs) in the automotive industry presents new opportunities for turbochargers. These devices can enhance the efficiency of the internal combustion engine in hybrid cars, boosting performance and supporting the electric motor. Additionally, advancements in electric turbocharging technology are being made to improve power delivery in hybrid powertrains.

The market for turbochargers is influenced by the demand for high-performance automobiles, as they enhance power and acceleration without adding unnecessary weight or complexity. These components are used by sports car manufacturers and enthusiasts to produce high-performance sedans, SUVs, and mainstream models. The market for turbochargers will continue to thrive as long as consumers’ interest in performance-oriented automobiles remains high.

Vehicle Turbocharger Industry Analysis:

Honeywell, BorgWarner, IHI, and MHI lead the worldwide vehicle turbocharger industry, accounting for 75 percent of the total. Europe has the largest market, accounting for roughly 40 percent. This is owing to rigorous environmental regulations, such as Euro 6 standards, which force automakers to adopt fuel-efficient equipment that decreases emissions. European purchasers favour diesel vehicles, which frequently employ turbochargers to improve performance and fuel economy. European governments also push the adoption of turbocharged engines in order to promote cleaner vehicles and lower carbon footprints.

View Full Report:

Source; PRNewswire

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Israeli automotive firm EVR Motors has opened its first green-field factory in India, Manesar, Haryana. The plant will produce trapezoidal geometry coils, a key component of its Trapezoidal Stator Radial Flux Permanent Magnet (RFPM) motor technology.

EVR Motors, an Israeli pioneer specialising in high power-density electric motors, today announced the opening of a new green-field factory in Manesar, Haryana, through its subsidiary, I.EVR Motors. This plant is a noteworthy milestone since it is an Israeli automotive firm’s first manufacturing operation in India, and it will play an important part in the company’s worldwide production strategy.

EVR is set to produce trapezoidal geometry coils, a key component of its Trapezoidal Stator Radial Flux Permanent Magnet (RFPM) motor technology. The highly-automated Manesar plant is designed to supply coils for around 20,000 motors per month, with plans to expand to 100,000 to meet the growing global demand for electric vehicles (EVs).

Sajal Kishore, MD, EVR Motors, said, “The opening of our new plant in India is a significant milestone in our mission to revolutionise electric mobility with innovative motor technologies. By establishing this facility, we ensure a reliable supply chain and support our growth plans in India and globally. This venture exemplifies India-Israel business cooperation and embodies our vision of ‘Make in India for the world.’ Our greenfield investment highlights our confidence in the Indian market and trust in its burgeoning mobility sector.”

EVR has secured commercial agreements with prominent Indian automotive companies like Napino, Belrise Group, EKA Mobility, and RSB Transmissions, aiming to strengthen its supply chain and expand its market reach.

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Volvo CE in Korea has invested SEK 80 million ($7.8 million) in a 2,500-square-meter battery pack factory to promote sustainable practices in the construction industry, aiming to achieve fossil-free operations and electrify 35 percent of machine sales by 2030.

Volvo CE in Changwon, Korea, has presented an advanced battery pack factory for Volvo Group solutions.The ceremony, held on May 15, 2024, featured Volvo Group leaders, employees, and significant stakeholders.

Investment & Infrastructure Volvo CE has invested SEK 80 million ($7.8 million) in the creation of this new 2,500-square-meter facility, which is housed within the existing component workshop in Changwon and intends to advance sustainable practices in the construction industry.

Start of production Mass manufacture of the battery packs began on April 23rd, with the first batch scheduled for incorporation into Volvo CE’s new EC230 Electric excavator model. Volvo CE began mass manufacturing of electric excavators in April 2022. After completing this new facility, they will be able to create them in-house, from batteries to completed items, saving time and money on logistics.

Dignitaries and distinguished individuals attended the opening ceremony, including Andrew Knight, Managing Director of Volvo Group Korea, and Kamel Sid, Head of Operations at Volvo CE, among others. Their attendance emphasised the importance of this milestone in Volvo’s electrification strategy.

Sustainability and Future Outlook Volvo CE’s Head of Operations, Kamel Sid, highlighted the strategic importance of this investment in aligning with Volvo CE’s sustainability goals. With an ambitious target to achieve fossil-free operations and electrify 35 percent of machine sales by 2030, this facility represents a crucial step towards meeting customer demand for sustainable construction solutions.

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Tata Motors introduces the Ace EV 1000, a zero-emission mini-truck with a 1 tonne payload and 161km range. It features an advanced battery management system, Fleet Edge telemetry, and EVOGEN powertrain, with a 27kW motor.

Tata Motors, India’s largest commercial vehicle manufacturer, has expanded its e-cargo mobility offerings with the introduction of the all-new Ace EV 1000. Designed to transform last-mile travel, this zero-emission mini-truck has a greater rated payload of 1 tonne and a certified range of 161km on a single charge. The Ace EV was created with valuable feedback from its clients, and the new model will suit changing needs in industries such as FMCG, drinks, paints and lubricants, LPG, and dairy.

The Ace EV is supported by over 150 Electric Vehicle Support Centres around the country and comes equipped with an advanced battery management system, Fleet Edge telemetry system, and durable aggregates for best-in-class uptime. The Ace EV makes use of the vast capabilities of the Tata UniEVerse, combining with relevant Tata Group firms and partnering with the country’s premier lenders to provide consumers with a comprehensive e-cargo mobility solution. It will be offered with various cargo decks and will be sold at all Tata Motors commercial vehicle dealerships around the country.

Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors Commercial Vehicles, said Over the past two years, our Ace EV customers have been beneficiaries of an unmatched experience, which is profitable and sustainable at the same time. They have become ambassadors of the revolutionary zero-emission last-mile mobility solution. With the launch of the Ace EV 1000, we are extending the experience to customers who are looking at solutions with improved operating economics across the varied sectors they service. We are confident that the Ace EV 1000 will contribute to a greener future while delivering superior value and low cost of ownership.”

The Ace EV is powered by the EVOGEN powertrain, which provides a unique driving experience. It also comes with a 7-year battery guarantee and a 5-year complete maintenance plan. It provides safe, all-weather operations with an innovative battery cooling system and regenerative braking to increase driving range. It enables frequent and fast charging, resulting in excellent uptime. It is driven by a 27kW (36hp) motor with 130Nm of peak torque, providing best-in-class pickup and gradeability, enabling for simple climb in fully loaded conditions.

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The partnership will integrate Foretellix’s Foretify platform with Geely’s development, V&V flows, and simulator, enabling efficient synthetic data generation, AI training, and performance assessment.

Geely, a major Chinese automobile manufacturer, and Foretellix, a leading provider of safety-driven V&V solutions for autonomous vehicles (AV), introduce a strategic alliance to enable safe large-scale AV deployment while lowering Geely’s R&D costs and enhancing development efficiency.

Foretellix and Geely are partnering to integrate Foretellix’s Foretify platform with Geely’s development, V&V flows, and advanced simulator. The platform will enable efficient synthetic data generation for AI training, automated scenario-based virtual testing, large-scale failure triage, performance assessment, and ODD coverage measurement. It will also analyse driving logs and replay virtual simulation variations.

“The Foretellix solution will expedite and enhance Geely’s development and validation process,” she said. ChuanHai Li, Vice President of Geely Research and Development. “It will enable us to ensure proper ODD coverage, quickly identify unknown corner cases, and resolve them more efficiently. Our partnership with Forerellix will be crucial in Geely’s quest to overcome safety challenges and commercialise AVs faster.”

“We are excited to partner with Geely,” said Ziv Binyamini, Foretellix CEO and co-founder. “We look forward to working with Geely and helping them accelerate their strategy for safe, efficient, and cost-effective autonomy.”

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Kennametal India has introduced the MacHX800, a standard horizontal machining centre (HMC) for large-part machining across various industries. The machine, equipped with Industry 4.0 compatibility, offers rigidity, productivity, accuracy, and versatility and is designed for complex components.

WIDMA Machining Solutions Group of Kennametal India Limited, a leading manufacturer of metal-cut CNC machines, announced the launch of the MacHX800, a standard horizontal machining centre (HMC) designed for large-part machining across industries including commercial vehicles, construction and farm equipment, aerospace, and general engineering. Designed with advanced next-gen features, including Industry 4.0 compatibility, this new WIDMA machine delivers the rigidity, productivity, accuracy, and versatility to machine a variety of materials in the toughest conditions. 

“We are thrilled to announce the addition of horizontal machining centres to our expanding portfolio of innovative standard offerings. The MacHX800 is a testament to our decades of experience in delivering customers cutting-edge solutions through customised as well as standard machines. These next-gen machines are manufactured in our state-of-the-art facility in Bangalore, India. Leveraging its end-to-end capabilities and stringent process adherence as per Kennametal global standards, our machines ensure optimum quality with consistent performance,” said Vijaykrishnan Venkatesan, Managing Director, Kennametal India Limited. 

The MacHX800 is specifically designed to machine complicated, massive components and deliver productivity in the most demanding environments, providing remarkable accuracy and precision to maximise output and manage component costs. User-friendly features let operators easily load, unload, and machine large components while adhering to benchmarked ergonomic and safety standards. Integrates into Industry 4.0 settings.

The WIDMA MacHX800 combines the benefits of plug-and-play features with the ability to customise many offers, such as spindles, pallets, and tool magazines, allowing clients to meet their machining objectives.

“All put together, MacHX800 is engineered for machining tomorrow, enabling us to partner with our customers to solve their toughest productivity challenges,” added Vijaykrishnan. 

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Volvo Group and Eicher Motors have formed a joint venture with iTriangle Infotech to develop and supply fleet management solutions for truck and bus customers operating in a variety of applications. 

VE Commercial Vehicles Ltd (VECV), a joint venture between Volvo Group and Eicher Motors, has formed a joint venture with iTriangle Infotech, a leading provider of telematics solutions, to develop and supply fleet management solutions for truck and bus customers operating in a variety of applications. Definitive agreements to form the JV have been completed, and the JV will focus on developing industry-leading telematics fleet management systems for VECV, using telematics hardware devices supplied by iTriangle.

Through this joint venture, VECV wants to extend its unique and industry-leading surround-service portfolio for Eicher truck and bus customers, addressing India’s rapidly evolving people and logistics ecosystem as well as certain export markets.

Vinod Aggarwal, MD & CEO VECV said “Eicher took a lead to introduce 100 percent connectivity over five years ago. Since then, all Eicher Trucks and Buses are monitored 24X7X365 at our industry leading Uptime Center. Through the MyEicher App customers have unlimited access to advanced fleet management systems. The JV with iTriangle is a next step in this journey.”

Vadiraj Katti, CEO & Co-founder, iTriangle said, “As a company focused on building advanced telematics and mobility solutions, our endeavor has always been to provide innovative offerings to our customers to make public and commercial transport safe and more productive. VECV has been a pioneer in India to drive digitalization and technology in the transport sector and we are extremely excited to partner with them to develop and offer advanced Fleet Management Solutions to the industry.”

VE Commercial Vehicles Limited (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited. The company has been in existence since July 2008 and encompasses the whole line of Eicher-branded trucks and buses, Volvo buses, exclusive distribution of Volvo trucks in India, engine manufacturing and exports for the Volvo Group, non-automotive engines, and the Eicher component business. VECV, a multi-brand, multi-division firm with innovative goods and services, is now recognised as an industry leader in modernising commercial transportation in India and the developing world.

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BAE Systems and Eaton are expanding their partnership to include electric vehicle (EV) solutions for heavy-duty trucks. The partnership, which began in 2023, will combine BAE Systems’ electric motor and power electronics with Eaton’s HD 4-speed EV gearbox.

BAE Systems, a leader in electric propulsion, and Eaton, a worldwide power management firm, are expanding their partnership to include electric vehicle (EV) solutions for heavy-duty trucks. The solution provides original equipment manufacturers and commercial vehicle modifiers with a comprehensive, efficient, innovative, and adaptable EV system for a diverse spectrum of zero-emission platforms.

The two companies signed a memorandum of understanding in 2023 to offer electric drive technology solutions for medium-duty trucks. The relationship has grown to encompass heavy-duty applications, providing manufacturers with a full line of electric drive systems for commercial trucks weighing more than 19 tonnes.

BAE Systems will subsequently combine its electric motor and suite of power-dense, advanced power electronics with Eaton’s HD 4-speed EV gearbox to provide a complete heavy-duty EV system. Along with the existing MD-4 solution, the integrated systems are intended for medium- and heavy-duty applications such as pick-up and delivery vehicles, school and transit buses, and material handling, garbage, and regional haul trucks.

“We are combining our expertise and proven technology to provide customers with a complete EV solution,” said Bob Lamanna, vice president and general manager of Power & Propulsion Solutions at BAE Systems.

BAE Systems and Eaton have developed a comprehensive solution for the commercial truck market, combining advanced technology with Eaton’s MD and HD EV transmissions. BAE Systems’ power electronics are designed for reliability and adaptability, while Eaton’s transmissions improve range, grade capability, and acceleration for commercial electric vehicles.

“By expanding our scope to include more vehicle ratings, our robust system ensures high performance and reliability across a wider range of classes and sizes,” said Mark Kramer, business unit director, ePowertrain, Eaton’s Vehicle Group.

BAE Systems’ electric drive technology builds upon more than 25 years of research to power low- and zero-emission platforms on land and at sea, such as battery electric, fuel cell, and hybrid electric vehicles. The firm has over 16,000 propulsion systems in transit buses, boats, military, and industrial vehicles around the world, with over five billion miles of proven performance.

Its electric propulsion technology is developed, manufactured, and serviced at its facilities in Endicott, New York, Rochester, U.K, and Guaymas, Mexico.


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With the showdown of FY 23, SIAM shared the dealings of the Indian auto industry, which will help the manufacturers craft their outlook for the upcoming year—growth or abeyance.

With the news spiralling about the automotive industry’s stagnancy for 2024, financial updates from the Society of Indian Automobile Manufacturers (SIAM) for 2023–24 show a rather positive outlook. The Indian automobile industry, despite challenges, kept its grit intact and witnessed growth across different segments in the financial year 2023–24.

The Indian automotive industry saw growth and complexity during the financial year 2023–24, with production reaching 2,84,34,742 units. This marked a notable 9.6% increase over the previous year. Domestic sales surged by 12.5%, reflecting the robust demand within the country. This growth was, however, tempered by a 5.5% decline in cumulative exports, indicating challenges in international markets.

Two-wheelers emerged as the backbone of Indian automotive production, with a staggering 2,14,68,527 units manufactured, representing a 10.3% increase from the previous year. Domestic sales of two-wheelers also rose by 13.3%, notifying the sustained demand within the country. However, exports experienced a slight decline of 5.3%, hinting at potential market constraints abroad.

Passenger vehicles (PVs) saw a production increase of 6.9%, totalling 49,01,844 units. Domestic sales of PVs rose by 8.4%, portraying strong consumer interest in this segment. It was also the only segment with a positive export notion, with a 1.4% growth rate.

In the Medium and Heavy Commercial Vehicles (M&HCVs) segment, production figures increased by 3.5%, with passenger carrier vehicles showing a remarkable 25.7% surge. Domestic sales of passenger carrier M&HCVs soared by 38.3%, while exports experienced a decline of 17.4%.

The Light Commercial Vehicles (LCVs) segment presented varied trends, with passenger carrier LCVs witnessing a substantial 62.7% increase in production and a notable 16.8% rise in domestic sales. Conversely, goods carrier LCVs experienced a slight decline in production and domestic sales, highlighting contrasting dynamics within the segment.

The growth in commercial vehicles was also impacted by the migration to higher-tonnage trucks, which created a higher payload capacity, which needs to be reflected in the number of units.

Three-wheeler segments went up as well, with passenger carrier and goods carrier segments experiencing increases in production and domestic sales. Passenger Carrier Three-Wheelers saw a notable 16.5% increase in production and a wondrous 50.9% soar in domestic sales. However, exports for passenger carrier three-wheelers declined by 18.0%.

Commenting on the Q4 performance of 2023–24, Rajesh Menon, Director General, SIAM, said, “Two-Wheelers posted sales of 4.5 million units with a significant growth of 25% compared to Q4 of FY 2022–23. Passenger vehicles registered a growth of 12% and posted sales of more than 1.1 million units. Three Wheelers posted sales of 1.65 lakh units, a growth of 7%. Commercial vehicles registered a degrowth of (-) 4% by posting sales of more than 2.68 lakh units.”

Due to the monetary crisis in the overseas market, the fiscal year saw a visible decline in commercial, two—and three-wheeler, and passenger vehicle exports overall, despite a slight increase in passenger vehicle exports. However, the past quarter saw a strong rebound, particularly for two-wheelers, suggesting greater prospects for this year.

With the auto sector contributing around 7.1% to our total GDP and deploying direct employment, this sector is most sought after. The indication of a possible lull in the upcoming financial year has been debunked yet, with the strong growth of the auto sector by the end of 2023–24.

“Against the backdrop of strong economic growth of 7.6% due to favourable policies implemented by the Government of India, the Indian automobile industry has posted a satisfactory performance, with the domestic industry growing by 12.5% during the last financial year,” added Vinod Aggarwal, President of SIAM.

The year also showed the auto industry’s commitment to sustainability as it started manufacturing vehicles that meet material requirements for 20% ethanol. It saw a 90% increase in electric passenger cars and a 30% increase in electric two-wheelers. The significant increase in sales of hybrid and electric vehicles for the entire year 2023 highlights a noteworthy trend towards sustainable transportation, which is indicative of changing customer preferences. Sales of hybrid cars surged to an unprecedented 82,607 units, more than four times the number of vehicles sold in 2022. Meanwhile, sales of battery-operated electric cars nearly doubled to 81,710 units. For the first time, hybrid automobiles outsold electric cars annually, providing important new information about shifting customer preferences for sustainable transport. The industry is still upbeat, given the continued optimism in the macroeconomic outlook.

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The automotive performance accessories market is expected to grow at a CAGR of 4.6 percent, reaching a value of US$494.8 Million by 2031, driven by trends like performance chips, body kits, exhaust systems, suspension upgrades, engine tuning, and eco-friendly accessories.

The automotive performance accessories market encompasses a wide range of products designed to enhance a vehicle’s performance, appearance, and comfort. From engine modifications to aesthetic upgrades, these accessories are sought after by car enthusiasts and regular drivers alike. According to Persistence Market Research’s projections, the global automotive performance accessories market is forecast to expand at a CAGR of 4.6 percent and thereby increase from an expected value of US$361.2 Million in 2024, to US$494.8 Million by the end of 2031.

In the ever-changing world of automobile customisation, fans are continuously looking for methods to improve the performance and appearance of their vehicles. From slick external enhancements to strong engine changes, the world of performance accessories provides a wealth of alternatives for drivers wishing to customise their vehicles. In this article, we’ll look at the most recent trends in vehicle performance accessories, from cutting-edge technology to timeless classics, all geared to improve your driving experience.

Automotive Customization Trends and Upgrades:

Power Boosting Performance Chips: One of the most popular trends in automotive customization is the use of performance chips to enhance engine performance. These small, electronic devices are installed in the engine control unit (ECU) and optimise fuel delivery, ignition timing, and other parameters to increase horsepower and torque. Advanced models even allow for on-the-fly tuning, giving drivers the ability to adjust performance settings to suit their driving style. With the rise of electric vehicles, performance chips for EVs are also becoming increasingly prevalent, offering improved acceleration and range.

Aggressive Body Kits and Aero Enhancements: Aesthetic customization remains a cornerstone of automotive culture, and body kits are a favorite among enthusiasts looking to give their vehicles a more aggressive stance. From carbon fiber splitters to rear diffusers and oversized wings, these aftermarket upgrades not only improve aerodynamics but also add a touch of visual flair. With the growing popularity of motorsports-inspired designs, manufacturers are producing body kits that not only look the part but also provide tangible performance benefits on the track.

High-Performance Exhaust Systems: The exhaust system plays a crucial role in a vehicle’s performance, affecting both power output and sound. Performance exhaust systems are designed to optimise exhaust flow, reducing back pressure and unlocking additional horsepower and torque. Beyond performance gains, aftermarket exhausts also offer drivers the ability to customize the sound of their vehicle, with options ranging from throaty and aggressive to refined and understated. Titanium and carbon fiber construction are also becoming increasingly popular, offering weight savings and a unique aesthetic appeal.

Suspension Upgrades for Enhanced Handling: Improving a vehicle’s handling characteristics is a top priority for many enthusiasts, and suspension upgrades are key to achieving this goal. Lowering springs, coilover kits, and adjustable dampers allow drivers to fine-tune their vehicle’s ride height and stiffness, resulting in improved cornering ability and responsiveness. Additionally, sway bars and strut braces can further enhance chassis rigidity, reducing body roll and improving overall stability during spirited driving.

Performance Braking Systems: As vehicles become more powerful, the importance of reliable braking systems cannot be overstated. Performance brake kits offer larger rotors, multi-piston calipers, and high-performance brake pads, providing improved stopping power and fade resistance. Carbon ceramic brake systems, once reserved for high-end exotics, are now available as aftermarket upgrades for a wide range of vehicles, offering superior performance and durability on the street and track alike.

Advanced Engine Tuning and Forced Induction: For enthusiasts seeking maximum performance gains, advanced engine tuning and forced induction systems are the ultimate upgrades. Tuning software allows for precise calibration of engine parameters, optimizing air/fuel ratios, ignition timing, and boost levels for maximum power output. Turbochargers and superchargers can dramatically increase engine output, providing a significant boost in horsepower and torque. With the advent of water/methanol injection systems and nitrous oxide kits, the possibilities for performance enhancement are virtually limitless.

Integration of Smart Technology: The integration of smart technology into automotive performance accessories is a rapidly growing trend. From smartphone-connected tuning devices to advanced telemetry systems, drivers now have access to a wealth of data and customisation options at their fingertips. Real-time performance metrics, such as horsepower, torque, and acceleration times, can be displayed on digital dashboards or synced to mobile apps for analysis and sharing with fellow enthusiasts.

Environmental Consciousness and Sustainable Upgrades: With increasing concern for the environment, there is a growing demand for sustainable automotive upgrades. Manufacturers are developing eco-friendly performance accessories, such as lightweight recycled materials and energy-efficient components, to reduce carbon emissions and minimize environmental impact. Electric vehicle conversion kits and hybrid powertrain upgrades are also gaining traction, offering eco-conscious drivers the opportunity to enjoy enhanced performance without compromising sustainability.

Automotive performance accessories are constantly evolving, offering drivers unparalleled customisation and performance. With a wide range of aftermarket upgrades, enthusiasts can enhance acceleration, cornering, and driving dynamics. Staying updated with the latest trends and technologies in vehicle customisation allows enthusiasts to unlock the full potential of their rides and elevate their driving experience.

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The SNAP offers a high-performance, eco-friendly ride with a 2000 watt peak motor and a top speed of 60 km/h. It has a range of 105 km on a single charge and a charging time of less than 4 hours.

Odysse Electric, a leader in the electric two-wheeler business, is delighted to announce the release of two cutting-edge models: the SNAP High-Speed Scooter and the E2 Low-speed Model. These unique additions to the Odysse Electric lineup mark a key step towards revolutionising India’s electric car market.

The SNAP high-speed scooter is intended to deliver an exhilarating riding experience while maintaining sustainability. With a peak motor power of 2000 watts and a top speed of 60 km/h, the SNAP delivers unrivalled performance and agility. The SNAP, with a range of 105 km on a single charge and a charging time of less than 4 hours, guarantees easy and dependable urban transportation. Its innovative features include a Waterproof IP67 motor, Robust Indian chassis as well as an AIS 156 certified smart battery (LFP) that is fireproof, long-lasting, and simple to maintain. In addition, the SNAP has a CAN-enabled display for exact battery level monitoring and distance-to-empty computation, as well as cruise control for enhanced convenience.

The E2 Low-Speed Model is designed for urban commuters who value dependability and sustainability. With a 250-watt motor and a top speed of 25 km/h, the E2 prioritises safety and sustainability. With a range of 70 km and a charge period of about 4 hours, the E2 allows for hassle-free urban transportation with minimum environmental effect.

Nemin Vora, CEO of Odysse Electric, said, “At Odysse Electric, we strive to redefine the electric mobility landscape with sustainable and innovative solutions that empower consumers and contribute to a greener future. With the introduction of the SNAP high-speed scooter and the E2 low-speed model, we demonstrate our unwavering commitment to excellence, sustainability, and customer satisfaction. It is our belief that these new offerings will set new standards for electric two-wheelers in India and beyond.”

Since its establishment in 2020, Odysse Electric has been at the forefront of transforming India’s electric vehicle landscape. Renowned for its eco-friendly and technologically advanced offerings, Odysse Electric continues to receive international recognition for its unwavering dedication to excellence, innovation, and sustainability.

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DrivebuddyAI utilizes neural networks and telematics to enhance ADAS with safety features like collision avoidance and driver drowsiness detection, enabling real-time audible warnings and annotations.

Roadzen, a worldwide AI pioneer at the intersection of insurance and mobility, announced today that Dalmia Transport & Logistics has chosen Roadzen’s patented ADAMATICS technology platform, DrivebuddyAI, for fleet management. Roadzen’s strategic relationship with Dalmia will last five years. Dalmia’s extensive three-month evaluation process of DrivebuddyAI resulted in the decision to use Roadzen technology.

ADAMATICS uses neural networks and telematics technologies to provide enhanced Driver Assistance Systems (“ADAS”) that include enhanced safety features like collision avoidance and driver drowsiness detection. When combined with video telematics, it allows for real-time audible warnings and annotation of recorded occurrences. This is a big step towards improving safety and operational efficiency in India’s rapidly increasing logistics industry.

Naman Dalmia, Partner at Dalmia Transport, emphasising the strategic value of adopting DrivebuddyAI’s ADAS, commented, “Roadzen’s DrivebuddyAI’s cutting-edge ADAS product has the potential to revolutionize driver management and real-time risk aversion through improved driver safety and behavior monitoring.”  Dalmia added, “Incorporating DrivebuddyAI’s ADAS into our fleet serves multiple strategic purposes. We can easily identify new or risky driving behaviors and use the data to coach our drivers, helping them to correct bad habits and improve their performance.”

Nisarg Pandya, head of DrivebuddyAI, stated, “With ADAMATICS proactive fleet monitoring and coaching, we believe we can significantly enhance fleet operations and driver behavior over time. We are proud that, after rigorous evaluation, DrivebuddyAI was chosen over the world’s leading video telematics and ADAS vendors to partner with Dalmia. The rapid expansion of India’s logistics sector, which is heavily dependent large vehicle fleets, also adds to the urgency of deploying these advanced systems for transportation and safety.”

Affirming the Company’s growing global reach, Rohan Malhotra, CEO of Roadzen, said, “Our partnership with Dalmia reflects Roadzen’s increasing pipeline of global opportunities. It demonstrates our shared commitment to improve road safety and operational efficiencies for fleets.” Malhotra added, “We are also delighted to note that Piper Sandler & Co. and Jefferies Financial Group Inc. have recognized Roadzen as a top candidate for potential inclusion in the Russell 2000 – a significant milestone in our journey as a public company.”

DrivebuddyAI, a subsidiary of Roadzen, is at the forefront of leveraging AI for enhanced fleet safety and insurance, offering innovative solutions like ADAMATICS that integrate ADAS with telematics. This groundbreaking technology is setting new standards for fleet operations and risk management in the transportation sector.

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Vedanta Aluminium offers high-quality solutions such as primary foundry alloys, billets, ingots, rolled products, and wire rods, all with a customer-first focus and a dedication to sustainable practices.

Vedanta Aluminium, India’s largest aluminium manufacturer, hosted AutoEdge 2024, an automotive industry conference, in New Delhi. Aluminium, which is responsible for allowing numerous modes of contemporary transportation, has also established itself as an important raw element in car manufacture. The event offered expert-led talks on the sector’s future roadmap and the role of aluminium in its transformation, as well as opportunities to find new areas of collaboration. The event was attended by the industry’s top automakers and crucial component manufacturers.

Aluminium is a lightweight metal known for its high strength-to-weight ratio, good electrical conductivity, great corrosion resistance, and limitless recyclability. These qualities make it an obvious choice for many applications in the rapidly expanding automotive sector, which is predicted to account for roughly 15 percent of India’s GDP by FY31. An internal combustion (IC) engine car comprises around 180 kg of aluminium, but an electric vehicle includes approximately 260 kg of aluminium.

Vedanta Aluminium recognises aluminium’s ability to drive innovation in the automobile sector and provides many high-quality solutions targeted to the industry. Some of them include specific primary foundry alloys (PFAs) for the development of cylinder heads and alloy wheels, as well as billets for crash-resistant extrusions, which are perfect for applications that need high impact resistance. In addition, the firm supplies ingots, rolled products, and wire rods for a variety of automotive applications. They are manufactured with world-class technology sourced from the United States, Spain, and Italy, among others, and distributed to clients in over 60 countries for high-end applications, demonstrating their excellent manufacturing quality and demand.

Vedanta Aluminium has consistently focused on a ‘customer-first’ approach to product innovation. The company’s Customer Technical Services team works closely with customers to develop products as per their specifications. At the company’s upcoming Aluminium Park in Jharsuguda, Odisha, downstream companies can set up their units to access just-in-time molten metal drawn from Vedanta’s mega aluminium smelter nearby. Vedanta Aluminium has also recently launched Vedanta Metal Bazaar, the world’s largest e-superstore for over 750 primary aluminium products, with Artificial Intelligence (AI)-based features offering a simplified end-to-end buying experience for customers. 

John Slaven, CEO, Vedanta Aluminium, said, “We offer our customers in the automotive industry an unmatched combination of advantages: global expertise, cutting-edge technology, customized alloys, ease of doing business, a reliable supply chain and most importantly, an unyielding commitment to sustainable business practices. Backed by innovative product development, technological sophistication and localisation, they represent an opportunity for Indian automotive players to compete at the same level as global companies.”

Gaurav Vats, Senior General Lead – Corporate Materials, Uno Minda, added, “Vedanta Aluminium offered rich insights into how the automotive sector is poised to evolve, and the several ways aluminium could help us derive maximum value from this transformation. Collaborative efforts always result in improved solutions, and so we look forward to our fruitful partnership with Vedanta Aluminium for unlocking enhanced innovation and business growth.”

The company has been named the world’s most sustainable aluminium producer by S&P Global Corporate Sustainability Assessment 2023. Its operations, including the world’s largest smelter in Jharsuguda and India’s iconic BALCO in Korba, Chhattisgarh, are certified by the Aluminium Stewardship Initiative (ASI) and Environmental Product Declaration (EPD) International, ensuring high-quality aluminium products are sustainably produced.

Vedanta Aluminium, a leading Indian aluminium company, has achieved IATF 16949:2016 certification for its smelting operations and product range, meeting all BIS standards. The company also offers low-carbon, ‘green’ aluminium under its Restora range, which uses renewable energy and has a GHG emission intensity less than 4 tonnes of CO2 equivalent per tonne of aluminium. Restora Ultra, made from recovered aluminium, has an even lower carbon footprint, making it among the lowest in the world. These achievements demonstrate Vedanta Aluminium’s commitment to sustainable materials for the global automotive industry.

Vedanta Aluminium, part of Vedanta Limited, is India’s largest aluminium producer, producing over half of the country’s total production in FY24. The company focuses on value-added aluminium products for core industries and aims to promote aluminium as the ‘Metal of the Future’ for a greener future through its world-class smelters, alumina refinery, and power plants.

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Tata Motors has placed a fourth order for spare wheel winches from Remsons Industries, totaling ₹30 crore over three years. The order is for the Tata Nexon CNG, which helps businesses choose the perfect option.

Remsons Industries, an expert in cables and shifters for the automobile sector, has received its fourth order from Tata Motors for the provision of winches for spare wheels. The company is now supplying winches to successful models like Tigor, Altroz, and Punch and has recently received an order for its new model, the Tata Nexon CNG. The orders amount to ₹. 30 crore and will be implemented over three years.

Tata Motors displayed the Nexon iCNG, India’s first car with a turbocharged CNG drivetrain, during the Bharat Mobility Global Expo 2024. The SUV is slated to debut in the second half of 2024. This is a huge success for Remsons Industries, as it is Tata Motors’ fourth order for winches.

Amit Srivastava, Group CEO, said, “At Remsons, we take great pride that Tata Motors has placed their trust in us. By providing a wide selection of winches, we ensure that businesses can find the perfect solution for their specific needs and be a valuable partner in their journey.

With the help of UK acquisition Remsons was able to add various goods such as winches, jacks and pedal boxes. We are in the process of introducing them to our customers, who will be able to benefit from global technology produced in India.”

Remsons emerged as an industry leader, offering high-quality winch solutions. Remsons provides a wide selection of winch products that are noted for their dependability and durability. These winches are built to handle big weights and extreme circumstances, making them suitable for a variety of OEM and other applications.

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iACE MOTOTECH24, Gujarat, was held at the iACE Auditorium in Gandhinagar on March 7. It showcased Gujarat’s automotive excellence and technological and skilling advancements.

Gujarat, renowned for its robust auto hubs in Ahmedabad-Sanand, Mandal-Becharaji, Hansalpur–Vithalpur, Vadodara-Halol, and Rajkot, hosted a significant event in the automotive industry. Organised as a joint venture between the International Automobile Center of Excellence (iACE), the Government of Gujarat, Maruti Suzuki India Limited, and MOTOTECH24, this one-day summit focused on “Advanced Technology and Skilling for the Automobile Industry.” iACE, a premier academic institution, plays a vital role in nurturing and producing industry-ready talent.

The event explored advanced manufacturing technologies and trends shaping the automotive landscape for Original Equipment Manufacturers (OEMs) in Gujarat. Following the path set by the inaugural MOTOTECH 2023 event in Pune, the current summit emphasised skill development alongside technological advancements in the automotive sector. Esteemed industry experts from various sectors, including Auto OEMs, Auto Parts Manufacturers (Tier 1, 2, 3), Machinery, Tools & Accessories Manufacturers, Die & Mould Manufacturers, and Manufacturing Software Service Providers participated in the event. They discussed the technological advancements and the skills required to align with the transition from traditional technology to Industry 4.0 in the automotive industry.

Delegates included MDs & CEOs, CTOs, VPs & GMs of Manufacturing, Production Heads, Design and R&D Heads, Plant Heads, Technical Directors, QC Heads, and engineering students.

The conference commenced with a traditional lamplighting ceremony inaugurated by Rajiv Gandhi, E. Rajiv, Radha Poptani, Sameer Jindal, Mayank Verma, Prasad Nair, and Sagar Tamhane. Following this, Conference Chairman Rajiv Gandhi, CEO of iACE and Executive Board Member of Maruti Suzuki India Limited, delivered a keynote address. He stressed the importance of collaboration within the manufacturing ecosystem, highlighting the necessity for MSMEs to adapt to digitalisation and embrace technologies like Industry 4.0. He cited Maruti Suzuki’s development of a chatbot for manufacturing assistance as an example.

iACE MOTOTECH24 Gujarat summit calls to accelerate automotive technology and skilling

During his keynote address, E Rajiv, Executive Director of iACE, expressed, “iACE MOTOTECH24 Gujarat is extremely iACE MOTOTECH24 Gujarat summit calls to accelerate automotive technology and Skilling iACE MOTOTECH24, Gujarat, was held at the iACE Auditorium in Gandhinagar on March 7. It showcased Gujarat’s automotive excellence and technological and skilling advancements. April 2024 n 93 comprehensive, encompassing various aspects of auto manufacturing and addressing skill development, a theme echoed by all speakers. The automotive industry is witnessing a significant inflexion point, marked by technological advancements and disruptions. The increasing market share of electric vehicles accelerates this. This changing landscape for traditional OEMs, with government involvement, necessitates extensive upskilling efforts.”

The event was graced by distinguished speakers presenting technological insights on various subjects. Divyesh Kolwadkar, Sales Area Manager – West Region at Red Lion Controls, discussed OT-IT convergence and digitalisation in the automotive sector. Sangram Kishore Jena, India Head Automotive & Key Account Sales Manager – SAARC at Husky Injection Moulding Systems India Pvt Ltd, presented Husky’s innovative solutions for hot runners and temperature controllers in the automotive industry. Nanthakumar V, AGM (Head) Product Tooling Design & Development, Mould Maintenance, Plant Utilities at Toyoda Gosai, talked about localisation trends aiding auto OEMs. Neel Panchal, Founder of LHP Nanotechnologies LLP, delved into Graphene – its properties and applications. Sameer Jindal, Director at MG Motor, took us through the foray of MG Nurture and how this OEM is thriving in Indian industry. Sachin Sanghi, Principal Architect – Manufacturing at Google Cloud, showcased how technology & artificial intelligence can re-imagine the automotive business. Dr. Manivasangam, Head of Technology Services & Director at 3D Engineering, presented how software technologies can be leveraged for design & manufacturing. Amber Awana, Plant HR Head at Plastic Omnium Auto Inergy India Pvt Ltd, briefed on trends in labour relations & compliance challenges in the automotive industry.

A lively panel discussion chaired by Shirish Kulkarni, Founder & MD of Strota ConsulTech Pvt Ltd, revolved around Industry 5.0 – Achieving Manufacturing Excellence Leveraging Advanced Technologies. The panelists included Arth Patel, CEO of Tirex Chargers; Sandeep Chati, General Manager of Operation at Ford; Raj Mehta, Founder & Managing Director of Greta Electric Scooters; Vipul Bajpai, Vice President (Business Development) at Vecmocon Technologies; and Sameer Jindal, Director at MG Motor.

A Fireside Chat on Automotive Industry Shifts: opportunities and challenges for Toolmakers between Nishant Kashyap, Editor of TAGMA Times and founder of MAFTEC, and DK Sharma, Consultant—business
Transformation, shed light on the role of Toolmakers in the automotive industry. Another engaging Fireside Chat discussed ESG In Automotive Manufacturing between Krishna Bhojkar, Partner at Bhojkar Consulting; Tanu Ahuja, Senior Director at ACMA; and Siddharth Mohantty, Co-Founder of TWIKK.

The event concluded with an invitation to iACE MOTOTECH24, Pune, scheduled for September 27, 2024. The upcoming conference will further explore the future of the Automotive Industry in India. Interested parties are encouraged to participate and engage in influential conversations that will pave the way for automotive technology advancements in the country.


Rajiv Gandhi, CEO, International Automobile Centre of Excellence & Executive Board Member, Maruti Suzuki India Limited
“Collaborating the entire manufacturing ecosystem is crucial as the mindset is the biggest hurdle faced by the automotive industry.

E. Rajiv, Executive Director, International Automobile Centre of Excellence 
“As the traditional ecosystem in the auto industry undergoes a transformation, a surge in electrical utilisation has emerged, propelled by investments in semiconductors and related technologies. This shift necessitates mechanical engineers upgrading their skills and embracing proficiency in electrical equipment.”

Mayank Verma, Assistant Director – National Productivity Council, Government of India
“Government, Industry, and Academia must collaborate to bridge the skills gap. Through secure employment practices and policy revisions, we build a resilient workforce for the future.”

Divyesh Kolwadkar, Sales Area Manager – West Region, Red Lion Controls
“At Red Lion, our dedication to Industry 4.0 solutions dates back to 1972. We have empowered the automotive industry with digitalisation. By bridging OT to IT devices, we drive innovation for a smarter automotive future.”

Shirish Kulkarni, Founder & MD, Strota ConsulTech Pvt Ltd.
“India’s two-wheeler industry is evolving indigenously while eyeing global exports. Transitioning to electric vehicles by 2030 poses ecosystem challenges, but Indian OEMs prioritise product development for quality and reliability, meeting tough customer standards.”

Arth Patel, CEO, Tirex Chargers
“For the future of charging, diverse innovations like battery swapping, wireless and inductive charging, and pantographic solutions for larger vehicles are emerging. This evolving ecosystem may take 5 years to establish a robust solution for the next 25 years.

Sandeep Chati, General Manager Operation, Ford
“Cobots represents our vision for cost efficiency, yet overcoming ROI challenges remains a key feature. It’s about striking the right balance between innovation and financial sustainability in the automotive industry.”

Raj Mehta, Founder & Managing Director, Greta Electric Scooters
“Government homologation is needed for vehicle retrofitting and scrapping initiatives. Retrofitment, particularly in two-wheelers, is made more accessible and affordable, ensuring seamless adoption of sustainable transportation solutions.”

Vipul Bajpai, Vice President (Business Development), Vecmocon Technologies
“Electric vehicles are shaping a new era of detailed design and digital traceability in manufacturing. With the advent of batteries, we can see a surge in business opportunities, which are crucial for integrating functional safety in EV components.”

Sameer Jindal, Director, MG Motor
“The MG Hector embodies indigenous design tailored to over 75 technological features, catering to specific needs. Through MG Nuture, we introduced user-centric technologies, customising the automotive experience for the Indian market.”

Sangram Kishore Jena, India Head Automotive & Key Account Sales Manager – SAARC, Husky Injection Moulding Systems India Pvt Ltd
“With an eye on India’s booming automotive market, we at Husky Technologies aim to launch innovative products for enhancing manufacturing efficiency, reducing costs, and accelerating cycle times in the automotive industry.”

Nanthakumar V, AGM (Head) Product Tooling Design & Development, Mould Maintenance, Plant Utilities – Toyoda Gosa
“Collaborations between OEMs and suppliers during testing and evolution have significantly reduced lead times for vehicle launches. The localisation boom is fueling this transformation, driving efficiency across the automotive industry.”

Neel Panchal, Founder, LHP Nanotechnologies LLP
“Graphene, a two-dimensional wonder, blankets surfaces with remarkable conductivity and antimicrobial properties. Its water-repelling nature and myriad applications render it indispensable in revolutionising the automotive industry.”

Nishant Kashyap, Editor TAGMA Times & Founder, MAFTEC
“With automotive exports growing at an impressive rate of 43% annually, the Indian automotive industry is poised to generate numerous opportunities. With this we need to recognise that none of this progress can be materialised without the essential foundation of tooling.”

DK Sharma, Consultant – Business Transformation
“In the automotive industry’s evolution, I’ve witnessed the profound expertise of toolmakers stifled by ecosystem constraints. However, localisation efforts are narrowing the gap between OEMs and toolmakers, fostering collaboration and innovation.”

Sachin Sanghi, Principal Architect – Manufacturing, Google Cloud
“If we examine the trajectory of technological advancements over the years, it is evident that they have consistently improved or aided humanity. Therefore, AI should not be viewed as a threat; rather, it can be harnessed similarly to how computers and calculators revolutionised human capabilities through innovation.”

Krishna Bhojkar, Partner, Bhojkar Consulting
“As we strive for environmental friendliness and ESG focus, the rapid growth of the automotive sector necessitates responsible resource consumption. Recognising its intrinsic pollution, the automotive industry must prioritise sustainability to mitigate its environmental impact.”

Tanu Ahuja, Senior Director, ACMA
“We are witnessing a shift from stakeholders to stakeholders in the manufacturing industry. Businesses are now considering the pollution footprint before purchasing machinery. ESG is no longer just a buzzword but an entire agenda where every aspect of ESG factors into supporting businesses. Even consumers are increasingly conscious of the environmental, social, and governance aspects they are engaging with.”

Siddharth Mohantty, Co-Founder, TWIKK
“The auto industry is shifting its focus towards the green with AI and IoT for sustainable manufacturing. Industry 4.0 advancements are bolstering sustainability efforts, yet tracing the carbon footprint remains challenging. Balancing profits and environmental preservation through technology is imperative.”

Dr. Manivasangam, Head of Technology Services & Director, 3D Engineering
“1D simulation is used for confident concept development and performance prediction. The objective is to foresee EV performance during the concept stage and appropriately size the motor and battery.”

Amber Awana, Plant HR Head, Plastic Omnium Auto Inergy India Pvt Ltd
“Organisations providing training can empower individuals with essential manufacturing skills, while government support can amplify this effort, leading to a more skilled and competitive workforce in the industry.”

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Hyundai Motor and Kia have partnered with Exide Energy to localise EV battery manufacturing in India, with an emphasis on lithium-iron-phosphate (LFP) cells. This is a strategic step to grow their exclusive battery development, manufacture, supply, and alliances in the Indian market.

Hyundai Motor and Kia Corporation (Kia) executed a Memorandum of Understanding (MOU) for strategic collaboration with Exide Energy Solutions Ltd. (Exide Energy), a major Indian battery manufacturer, as part of their electric vehicle (EV) expansion plans.

Hyundai Motor and Kia intend to localise EV battery manufacture, with a focus on lithium-iron-phosphate (LFP) cells, as their electric vehicle plans for India expand. This strategic decision will position them as pioneers in using domestically produced batteries in upcoming EV models in India.

“India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localised battery production crucial,” said Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division. “Through this global partnership with Exide Energy Solutions Ltd., we will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”

Kolkata-based Exide Industries Ltd., India’s premier lead-acid battery provider, has over 75 years of experience and leads the industry in lead-acid batteries. Exide Energy Solutions Ltd. is a wholly owned subsidiary of Exide Industries Ltd., founded in 2022 to manufacture Lithium-Ion cells, modules, and packs in a variety of chemistries and form factors.

This strategic collaboration with Exide Energy represents the start of Hyundai Motor and Kia’s attempts to grow their exclusive battery development, manufacture, supply, and alliances in the Indian marketplace.

India is widely regarded as a highly promising automotive market, and the country is quickly developing as a key participant in the manufacturing and marketing of EVs. Recognizing the strategic importance of the Indian market, Hyundai Motor and Kia are taking the lead by releasing EV cars to establish themselves as the industry leaders.

The signing ceremony took held at Hyundai Motor Group’s Namyang Research and Development Center in South Korea, and was attended by Heui Won Yang, Chang Hwan Kim, Duk Gyo Jeong, and Mandar V Deo, Exide Energy’s Managing Director and CEO.

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The joint effort between Tresa Motors and JFK Transporters signifies a remarkable milestone in the endeavor to reduce carbon emissions in transportation.

Tresa Motors, India’s first OEM manufacturer of medium and heavy electric trucks, has secured a pre-order of 1000 trucks from JFK Transporters, a leading logistics company, renowned for its commitment to efficiency and innovation.

This partnership offers an expansive stage for Tresa Motors to showcase its cutting-edge capabilities on Indian roads. It also paves the way for the company to set new standards of efficiency, performance, and innovation that the EV industry has not witnessed thus far.

For Tresa Motors, getting validation through pre-order placements represents an opportunity to cement itself as a leader in the Electric Vehicle trucking industry. JFK Transporters, on the other hand, stands to benefit from early access to Tresa’s state-of-the-art electric trucks, enhancing its fleet’s performance and efficiency.

Tresa trucks deliver exceptional power with a maximum torque of 24000Nm and a top speed of 120 km/h, supported by a 300kWh battery allowing for a quick 15-minute charge time (10-80% SOC). Built on the innovative Axial Flux Motor Platform Flux 350™ and equipped with the groundbreaking Meg50™ 800V 50 kWh self-contained battery pack module, Tresa trucks offer superior performance, enhanced cooling capabilities, increased efficiency, compact size, and flexibility, all within IP69 self-contained enclosures with embedded active-liquid cooling for tailored ranges based on payload, ensuring cost-effectiveness for customers.

The joint effort between Tresa Motors and JFK Transporters signifies a remarkable milestone in the endeavor to reduce carbon emissions in transportation. This collaboration marks a pivotal moment in propelling India towards a cleaner and more sustainable future, setting a precedent for other companies to follow suit in embracing eco-friendly practices.

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The two firms have signed an agreement to form a joint venture (JV) with the aim to establish an automotive software and IT development hub in Pune, Bengaluru, and Chennai, a joint statement by the companies said.

The BMW Group and Tata Technologies, a global product engineering and digital services company, have signed an agreement to form a JV with the aim to establish a software and IT development hub with locations in Pune, Bangalore and Chennai, India. The main development and operations activities shall be established at Bangalore and Pune. In Chennai, the focus shall be on business IT solutions. The execution of the JV agreement is subject to review and approval by the relevant authorities.

Embodying the ethos of ‘Engineer in India for the World’, the JV will leverage Tata Technologies’ digital engineering expertise and talent pool in India to contribute to the BMW Group’s strategic expansion of software coding capabilities across global IT hubs and 24/7 operations. The JV will focus on strategic software development, including solutions for software defined vehicles (SDV). In automotive software, the focus will be on automated driving, infotainment and digital services. In business IT, the emphasis will be on digitalization and automation of product development, production and sales. From the inception of this JV, 100 trained and experienced TATA Technologies professionals will ensure robust and immediate contribution to software projects. The JV is likely to grow quickly to a four-digit number in the following years.

Christoph Grote, Senior Vice President of Software and E/E Architecture at BMW Group said: “Our collaboration with Tata Technologies will accelerate our progress in the field of the software defined vehicle. In international comparison, India boasts a large number of talents with outstanding software skills, who can contribute to our software competence. Developing vehicle software for the BMW Group means working with top-class processes and tools, which in turn gives Indian software engineers the chance to shape state-of-the-art, premium automotive experiences in future fields such as highly automated driving and artificial intelligence.”

“The expansion of international DevOps* hubs has clearly proved to be a successful model for the BMW Group,” said Alexander Buresch, CIO and Senior Vice President of BMW Group IT. “I am therefore extremely pleased that we have found a strong and valued technology partner with Tata Technologies and are now also expanding our footprint in India.”

Commenting on the collaboration, Warren Harris, CEO and MD of Tata Technologies, said, “Our collaboration with the BMW Group demonstrates our commitment to providing top-tier solutions in automotive software and digital engineering to customers across the world. Aligned with our vision of engineering a better world, we’re excited to bring our expertise to the forefront, aiding BMW Group in engineering premium products, delivering great digital experiences for their customers and propelling its digital transformation journey in Business IT.”

Nachiket Paranjpe, President of Automotive Sales at Tata Technologies, commented, “In the evolving automotive landscape, the journey towards software-defined vehicle represents a pivotal shift in automotive software and vehicle development methodologies. We will leverage our deep domain knowledge and SDV expertise to collaborate with the BMW Group towards engineering vehicles that are not just technologically advanced but deliver exceptional experiences to consumers around the globe.”

This collaboration between Tata Technologies and BMW Group represents a shared vision of innovation and excellence in automotive engineering and digital solutions.

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The expansion of the existing facility is also planned to cater to the bus project which will generate job opportunities within the Haryana region.

JBM Motors Ltd., part of the $1.2 billion JBM Group, is poised to invest up to Rs 500cr in setting up a bus plant and R&D center in Faridabad, Haryana to manufacture world‐class low‐floor city buses, CITYLIFE. The bus has exclusively been designed for city travel with world-class features and amenities. The group also plans to undertake expansion in one of its existing facilities in the region. Once commissioned, the plant will generate employment for workers in the Haryana region. At peak capacity, the plant will manufacture 2,000 buses annually.

Elaborating on the development, Nishant Arya, Executive Director, JBM Group said, “We are happy to announce the new plant and the expansion in the existing plant in the Faridabad region of Haryana and extend our sincere gratitude to the support extended to us by the State Govt. The upcoming plant shall demonstrate the best in class technology along with all modern shop floor work processes being followed across the globe”.

With technical know-how from renowned European bus manufacturer BredaMenarinibus, the bus has been designed ideally for Indian traffic and weather conditions. Our unique features include a monocoque frame for maximum strength and minimum weight, Independent Front Suspension, Complete Low floor, European safety standards in case of front/side collision and rollover accidents, automatic valve close in case of CNG leakage. Another safety feature (especially for women) is the larger window size that enables higher interior visibility at eye level to people from outside. The company aims to market the bus to all major transport authorities in India.

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NexGen Energia is currently in talks with the authorities in the Union Territory and scouting for 100-acre land either in the Kathua industrial area or in the Kashmir Valley.

Sustainable energy solutions firm NexGen Energia will invest Rs 1,000 crore in setting up a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir.

The Noida-based company said it is currently in talks with the authorities in the Union Territory and scouting for 100-acre land either in the Kathua industrial area or in the Kashmir Valley.

The move comes soon after the company announced Rs 3,000 crore investment for setting up a Compress Bio Gas (CBG) plant in Gujarat.

“Along with ‘Make in India’, we are on the way to fulfil the dream of self-reliant India. We will establish an EV plant in Jammu and Kashmir in collaboration with the government in which we will invest Rs 1,000 crore,” NexGen Energia chairman Piyush Dwivedi told PTI.

“The manufacturing unit will provide direct and indirect employment to about 1 lakh people and we aim to launch NGE’s most affordable electric two-wheeler on April 15 next month for just Rs 36,900 from our Noida unit,” Dwivedi said.

The NexGen Energia chairman said last week he met with Union Minister for Road Transport and Highways Nitin Gadkari at his Delhi office where the company presented its proposals on sustainable energy solutions like increasing the use of CBG and India-made EVs.

The company has a range of EVs two-wheelers and three-wheelers which is ready for launch. It will eventually start production of electric buses, trucks and cars in the future, it said.

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With a budget of Rs. 500 crore, the Electric Mobility Promotion Scheme will run from April 1st to July 31st, 2024, focusing on electric two-wheelers (e-2W) and three-wheelers (e-3W). Designed to boost green mobility, it aims to promote domestic electric vehicle manufacturing.

The Ministry of Heavy Industries, Government of India, has unveiled the Electric Mobility Promotion Scheme 2024 (EMPS 2024) with a total budget of Rs. 500 crore. This scheme, set to run from April 1st to July 31st, 2024, aims to expedite the adoption of electric vehicles (EVs) across the country, particularly focusing on electric two-wheelers (e-2W) and three-wheelers (e-3W). EMPS 2024 targets to support 3,72,215 EVs, including 3,33,387 e-2Ws and 38,828 e-3Ws, which encompasses registered e-rickshaws, e-carts, and those falling under the L5 category. The scheme emphasizes providing affordable and environmentally friendly public transportation options, especially for commercial purposes, while also extending benefits to privately or corporately owned e-2Ws.

EMPS 2024 comprises two primary components: Subsidies/Demand Incentive and Administration of Scheme. The former, with an allocation of INR 493.55 crore, provides incentives for electric 2Ws and 3Ws, including registered e-rickshaws, e-carts, and those in the L5 category. The latter, requiring INR 6.45 crore, covers Information, Education & Communication (IEC) activities and fees for Project Management Agency for efficient scheme administration. Notably, incentives will be extended only to vehicles equipped with advanced battery technologies, incentivizing the adoption of cutting-edge solutions.

Aligned with the vision of Aatma-Nirbhar Bharat, EMPS 2024 aims to promote an efficient, competitive, and resilient EV manufacturing industry in the country. The adoption of Phased Manufacturing Programme (PMP) encourages domestic manufacturing and strengthens the EV supply chain, fostering significant employment opportunities across the value chain. The Ministry of Heavy Industries will issue the notification and guidelines for EMPS 2024 separately, signaling a concerted effort to drive the transition towards sustainable and indigenous electric mobility solutions in India.

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The recent budget highlighted the expected pivot due to technological advancements in the manufacturing industry. Mitull Batraa, Co-founder and CEO of Udaan E Vehicles provides insights into this outlook.

Please discuss the manufacturing outlook for 2024 in the country.

The manufacturing outlook 2024, particularly in the EV sector, is incredibly promising. The commitment of the government to expand EV manufacturing aligns seamlessly with our national goal of achieving net-zero emissions by 2070. The recent announcement by Finance Minister Nirmala Sitharaman during the Interim Union Budget 2024 underscores a strategic vision for the growth of the EV ecosystem, with a focus on transitioning a significant portion of public transport, especially buses, to EVs.

What roles do AI, IoT, and automation play in enhancing efficiency and innovation within the manufacturing sector?

AI, IoT, and automation technologies are driving a revolution, enhancing efficiency, and fostering innovation within the manufacturing sector. AI helps to streamline logistics and decision-making. IoT facilitates real-time monitoring, and automation improves productivity and safety. Embracing these technologies is crucial for staying competitive and achieving sustainable growth.

What measures are being adopted in the skilled workforce to keep pace with the changing skill and safety requirements?

The evolving skillset demands in the manufacturing sector are being addressed through collaboration with the government and educational institutions. We are actively involved in upskilling our workforce, focusing on robotics, data analytics, and EV-specific technical knowledge. Additionally, safety training remains a top priority.

What measures in Budget 2024 are directed towards advancing technology and innovation in the manufacturing sector?

The measures outlined in Budget 2024 further contribute to advancing technology and innovation in the manufacturing sector. The extension of the concessional tax rate for new manufacturing units, incentives for research and development (R&D), and tax breaks for EVs are particularly encouraging. These steps align with our vision of making India a technologically advanced hub by 2047.

What acceleration do you see for Make-in-India in 2024 to push manufacturing industries growth in India?

The Make-in-India initiative is set to gain further momentum in 2024. The growing domestic market, increased awareness of sustainable solutions, and improved infrastructure will attract investments and foster local manufacturing. Research and Development will play a pivotal role in staying competitive, and we are committed to investing in cutting-edge battery technologies, improving range, and optimising charging infrastructure through collaborations with research institutions and startups.

How are you boosting EV manufacturing competitiveness in 2024 through R&D and innovative tech partnerships?

In 2024, we are optimistic about R&D and innovative tech. They are crucial for our competitiveness, especially in EV manufacturing. We are investing significantly in R&D, focusing on top-notch battery tech, better range, and optimised charging. The key to advancing tech innovation lies in partnering with research institutions and startups. Our goal is to meet the needs of today while foreseeing and influencing future trends by fostering curiosity and embracing emerging technologies.

In what ways manufacturers should build resilience to meet supply chain demand?

Securing the supply chain is crucial amidst global market complexities. With uncertain geopolitics and resource challenges, we are adopting diverse strategies. Diversifying sourcing channels is key as it reduces reliance on one region or supplier. Close collaboration with domestic suppliers strengthens our supply network. We are also integrating advanced techniques like additive manufacturing for production flexibility, reducing disruption risks. Regular assessments and contingency plans ensure our resilience, allowing us to meet market demands while maintaining stable operations.

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Raj Mehta, Founder & Managing Director, Greta Electric Scooters

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Neel Panchal, Founder, LHP Nanotechnologies LLP

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Divyesh Kolwadkar, Sales Area Manager – West Region, Red Lion Controls

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